In the election of 2005, the Conservatives won just 198 seats. Five years later they formed a government, as the senior members in a coalition with the Lib Dems.

In the election of 2015, Labour won 232 seats. While many Labour MPs regarded this result as a disaster, it was still a lot better than the Tories achieved ten years previously.

There are important differences. Labour faces a unique challenge winning back support in Scotland, for example.

But there’s no justification for the fatalism which has infected some Labour MPs and supporters.

Labour’s goal should be to win the next election, whether that means gaining an overall majority or getting in a position to lead a coalition (which probably means becoming the largest party in the Commons).

It’s not as if the sitting Conservative government is in a position of strength.

David Cameron managed to ensure the UK will leave the European Union despite arguing that Brexit would be a disaster. He will be remembered by history as a failure.

His replacement as Tory Prime Minister, Theresa May, is enjoying a honeymoon with voters and the media. But her first big policy announcement, on grammar schools, has proved divisive even among her own MPs.

The Conservatives are far from unbeatable.

Jeremy Corbyn has been confirmed as Labour leader and is likely to stay there until the next election unless he voluntarily resigns first.

And his supporters will naturally be delighted. But what have they actually got in return for all the pain the party has been through?

To hear Mr Corbyn and allies such as shadow chancellor John McDonnell speak, you might imagine Labour had made a break with its recent past – rejecting austerity and promising real investment, at last.

In fact, Labour’s policy on austerity hasn’t changed. Mr McDonnell says the party will balance the books on day-to-day spending, and borrow to invest in infrastructure.

This is pretty much the same policy Labour had in the last general election, when it was lead by Ed Miliband and his shadow chancellor, Ed Balls.

Mr McDonnell and Mr Corbyn have also copied Mr Balls’ proposed mechanism for distributing that investment - a national investment bank with a series of regional banks.

The policies are the same, so the test of whether Labour members have chosen the right leader is very simple.

Will Labour do what it is capable of doing and win the next general election?